This commentary was issued recently by money managers, research firms, and market newsletter writers and has been edited by Barron’s.
Non-U.S. Stocks Are a Bargain
Strategy ReportJan. 7: U.S. stocks are looking pricey. While valuations are a poor timing tool in the short run, they are an excellent forecaster of stock prices in the long run. The Shiller PE [price/earnings] ratio has reliably predicted the 10-year return on equities. Today, the Shiller PE is consistent with total real returns of close to zero over the next…
